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MF News MF industry adds nearly 18 lakh folios in November

MF industry adds nearly 18 lakh folios in November

The total folio count reaches 6.49 crore folios.
Padmaja Choudhury Dec 8, 2017

The MF industry added nearly 18 lakh folios to reach 6.49 crore folios in November, shows SEBI data.

Of the 18 lakh new folios in November, 11 lakh folios were in equity funds taking the total number of equity fund folios to 3.85 crore.

Experts attribute the increase in folios to upbeat market sentiment and increased awareness of mutual funds as an investment tool.

AMFI data shows that equity funds have received net inflows of over Rs.19,508 crore last month.

In percentage terms, the equity ETFs category recorded the highest jump in folios. The category witnessed a 61% increase in folios to 8.64 lakh folios in November. The NFO period of Bharat ETF remained open during the month and saw massive demand from investors. The fund house said that it has received nearly 3.35 lakh retail applications.

Balanced funds saw the third highest increase of folios with 2.08 lakh folios added in November. It received net inflows of Rs.7,614 crore last month.

ELSS category also saw a substantial increase in folios as investors are investing in ELSS as a tax-saving instrument.  The category has witnessed an addition of around 1.18 lakh MF folios in November.

The categories that witnessed a fall in folios include gold ETFs, income funds, gilt funds and fund of funds.  

Income and gilt funds saw a total reduction of almost 20,000 folios.

G. Pradeepkumar, CEO, Union Mutual Fund said that the reduction in folios is due to the shift to equity market from fixed income. “The outlook on fixed income has turned bleak as there are concerns of rising inflation. There are also concerns on fiscal deficit,” said Pradeepkumar.

 

Folio count as on November 2017

 

Oct 2017

Nov 2017

Difference

Difference %

Equity

37472745

38578295

1105550

2.95

ELSS

9155914

9274606

118692

1.30

Balanced

4909482

5117641

208159

4.24

ETFs other

536269

864791

328522

61.26

ETFs gold

355085

350202

-4883

-1.38

Income funds

9582220

9567158

-15062

-0.16

Gilt

92,988

86944

-6,044

-6.50

Liquid

963169

985447

22278

2.31

Fund of funds

97809

96544

-1265

-1.29

Total

63165681

64921628

1755947

2.78

 

Source: SEBI

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